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The delay in the mainnet launch caused Theta’s price to lose a quarter of its value during the recent correction.
After recording all-time highs throughout 2021, the price of Theta (THETA) 25% off in less than 24 hours. The drop is believed to have come from the interrupted mainnet rollout.
According to Cointelegraph, Theta’s mainnet launch was pushed back for up to two months, which caused some previous plans to be overturned.
Theta, the blockchain-based video streaming platform, is preparing for the official Mainnet 3.0 launch later this month, but on March 24th, Theta’s development team announced that they were forced to postpone. this plan until the end of June.
This news makes price Tetha turning. On Thursday morning of March 25, Theta’s price lost a quarter of its value – down from $ 14.43 to $ 10.66.
The cause of the delay in mainnet launch appears to be due to the delayed ‘code review’ process and the decision to put in the NFT market at the last minute in the upcoming upgrade.
Theta development team representative said: “Many opportunities for collaboration in the NFT space have required us to devote resources to building the upcoming Theta NFT market in a broader approach and incorporating several elements into the Mainnet. 3.0 ”.
With growth Theta’s magic during the first three months of 2021, perhaps it’s no surprise that coin prices are finally falling.
Theta recorded a 961% increase from January 1 to March 24, when its value rose from $ 1.36 to $ 14.43.
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